New Zealand Economic Information
Central Bank: Reserve Bank of New Zealand
Currency: New Zealand dollar (NZD, NZ$ or Kiwi)
Greatly dependent on international trade, New Zealand's economy benefits from its proximity to the Australia's strong economy. Considered one of the most business-friendly countries, New Zealand enjoys one of the lowest unemployment rates in the developed world. The New Zealand dollar, or kiwi, is a commodity-linked currency and, due to New Zealand's high interest rates, a popular currency to purchase for Carry Trades.
Key industries:
Food processing, wood and paper products, textiles, machinery, transportation equipment, banking and insurance, tourism and mining.
Agricultural products:
Dairy products, lamb and mutton, wheat, barley, potatoes, pulses, fruits, vegetables, wool, beef and fish.
Export commodities:
Dairy products, meat, wood and wood products, fish and machinery.
Import commodities:
Machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles and plastics.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 8/29/2010. These rates were not available to retail customers and were not the rates offered by EverBank. Past performance does not guarantee future results. |
A few factors to consider when evaluating the New Zealand dollar:
Reasons to consider
- New Zealand officially came out of the recession in June 2009.
- The reserve bank in New Zealand is expected to raise interest rates in the later part of 2010.
- The New Zealand Institute of Economic Research feels that consumer spending and global demand for exports will grow the economy in 2010.
- New Zealand home prices have risen 9%, after experiencing a three year low.
- New Zealand has experienced a jump in their Capacity Utilization data for the 4th Quarter 2009. The index at 91.1% is the highest level since June 2008.
Risk factors to consider
- CPI for December 2009 was negative (-0.2%).
- Unemployment was 7% in December 2009 and expected to go higher.
- Global imbalances and rising oil prices will have an impact on the currency for the next year.
How EverBank can help with your New Zealand dollar needs?
WorldCurrency® CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Basket CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Basket CD(s):
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrency® account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency are proprietary service marks of EverBank. All rights reserved.
